This PIN is known only to the Cardholder thus providing enhanced security against possible misuse. This microchip stores the Card member information and the PIN in an encrypted format. Why am I being issued an EMV Chip & PIN Credit Card?Īccording to the recent RBI Mandate, all customers who have used their Credit Card(s) Internationally (either E-Commerce, POS (Point of Sale) or ATM transactions) or any new issuance of Debit/Credit Card(s) effective 1st December, 2013 will have to be issued an EMV Chip & PIN enabled Credit Card.Īn EMV Chip & PIN Credit Card is a Credit Card with an embedded microchip.
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